Indo Rama Synthetics (India) Ltd.Q2 PAT +202%, EBITDA margin 8.8%, ₹200 Cr specialty capex

Indo Rama Synthetics' Q2 FY27 call, held on 26 October 2026, reported consolidated total income of ₹1,344 crore, up 10%, EBITDA of ₹117.7 crore, up 46.4%, at an 8.8% margin, and profit after tax of ₹74.1 crore, up 201.8%.

First-half total income fell 9.7% to ₹2,284 crore on supply chain issues, but EBITDA rose 24.9% to ₹225.7 crore at a 9.9% margin and profit after tax rose 78.3%. Operating cash flow was ₹328.5 crore, and net debt fell to about ₹852 crore, with debt to equity at 1.31x. The board approved about ₹200 crore for specialty filament and fibre, expected to add about 15% to revenue and 20% to EBITDA with a payback under two years and commercial operations within calendar 2027.

The Chairman expects the 9.9% margin to hold for two quarters and targets double digits, citing new PTA plants, trade agreements and easing Chinese competition, and expects FY27 volume near 4 lakh tonnes, recovering to 4.75 lakh tonnes next year. Exports have fallen to 6% of sales.